Russell Investments Group Ltd. Raises Stake in Red Robin Gourmet Burgers, Inc. (RRGB)

Russell Investments Group Ltd. increased its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 336.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,510 shares of the restaurant operator’s stock after buying an additional 94,435 shares during the period. Russell Investments Group Ltd. owned 0.95% of Red Robin Gourmet Burgers worth $7,994,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after buying an additional 1,557,726 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares in the last quarter. Hood River Capital Management LLC bought a new stake in Red Robin Gourmet Burgers during the first quarter valued at approximately $21,211,000. Dimensional Fund Advisors LP boosted its stake in Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Red Robin Gourmet Burgers by 2,125.9% in the first quarter. Wells Fargo & Company MN now owns 212,862 shares of the restaurant operator’s stock valued at $12,442,000 after buying an additional 203,299 shares in the last quarter.

Shares of Red Robin Gourmet Burgers, Inc. (RRGB) traded up 0.08% during trading on Friday, reaching $59.45. 77,456 shares of the company were exchanged. The stock has a market capitalization of $768.51 million, a price-to-earnings ratio of 92.17 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a one year low of $40.85 and a one year high of $74.11. The company has a 50 day moving average price of $61.59 and a 200-day moving average price of $58.79.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its quarterly earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. Red Robin Gourmet Burgers had a return on equity of 8.00% and a net margin of 0.64%. The business had revenue of $315.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Red Robin Gourmet Burgers, Inc. will post $2.75 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Russell Investments Group Ltd. Raises Stake in Red Robin Gourmet Burgers, Inc. (RRGB)” was reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.com-unik.info/2017/08/18/russell-investments-group-ltd-raises-stake-in-red-robin-gourmet-burgers-inc-rrgb.html.

RRGB has been the subject of a number of analyst reports. Bank of America Corporation lifted their target price on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Stephens reiterated an “overweight” rating and issued a $75.00 target price on shares of Red Robin Gourmet Burgers in a research note on Friday, May 19th. Zacks Investment Research upgraded shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, May 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $58.00 target price (up from $53.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. Finally, Maxim Group lifted their target price on shares of Red Robin Gourmet Burgers from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Red Robin Gourmet Burgers presently has a consensus rating of “Hold” and a consensus target price of $72.80.

In other Red Robin Gourmet Burgers news, Director Glenn B. Kaufman sold 4,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $289,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Blaine Aiken, Jr. sold 2,946 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $71.80, for a total value of $211,522.80. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $470,074.60. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

Want to see what other hedge funds are holding RRGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB).

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

What are top analysts saying about Red Robin Gourmet Burgers Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Red Robin Gourmet Burgers Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit